1 mark
Q1 Identify which pairing of rivalry and excludability best describes a private good.
Edexcel · 9EC0 / 8EC0 / WEC11–14
All 18 questions from the Edexcel International A Level Unit 1, May 2023 Economics paper (9EC0 / 8EC0 / WEC11–14), worth 100 marks in total. The main topics tested are Elasticity (4), Consumer & producer surplus (2), Price determination (2), Externalities (2).
Each question is summarised in our own words with its mark tariff, command word and specification point, and links through to the official paper.
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Q1 Identify which pairing of rivalry and excludability best describes a private good.
Q2 Identify what makes demand price inelastic, given estimates for cereals and fruit (legal limits / large stocks / many substitutes / few substitutes).
Q3 Deduce the elasticity of demand for NBA basketball tickets from the price and quantity changes between 2021 and 2022.
Q4 Identify the effect on price and on consumer surplus of a surge in South African demand for electric blankets.
Q5 Identify the behavioural explanation for 590 000 UK subscribers quitting after Amazon raised its Prime fee.
Q6 Deduce what Norwegian cross-elasticity figures imply about electric and hybrid vehicle sales when diesel car prices rise.
Q10 Using Singapore household earnings and cinema ticket sales for 2020 and 2021, calculate income elasticity of demand.
Q11 Explain, with a diagram, how Legoland's drop in visitor numbers from 2019 to 2021 affects its producer surplus.
Q7 Draw a diagram showing how a Spanish heatwave cutting olive output affects the global olive market.
Q8 Explain how market failure differs from government failure, using Maldives flooding and costly hotel planning rules.
Q9 Explain a microeconomic reason why insured Americans undergo operations they do not need.
Q12(a) Define supply, as the word is used in the extract on Apple's renewable energy commitments.
Q12(b) Explain one benefit to Apple of powering its production using renewable sources of energy.
Q12(c) With a supply and demand diagram, analyse two forces behind lithium's steep price increase up to October 2022.
Q12(d) Examine two ways a growing market in refurbished handsets is likely to affect phone manufacturers.
Q12(e) Discuss the microeconomic consequences, including external costs, of the decade-long rise in smartphone output.
Q13 Evaluate policies Turkey's government could adopt to cut road congestion, given worsening delays for Bursa commuters.
Q14 Evaluate government measures that could soften the effects of sharply rising world commodity prices.
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